As Gambling Apps Grow, Bettors are Slated to Owe More in Taxes This Year

You can’t watch a sporting event, listen to a podcast, or open social media without being served some sort of advertising for betting, whether it’s the now widely proliferated sports betting apps like FanDuel and DraftKings or the rapidly growing “prediction markets” like Polymarket and Kalshi. But if you’re just starting to get into gambling, you’re going to get hit for more than just your losses. As of January 1, 2026, the federal tax code will change to limit the…